Seat of the National Bank of Haiti in Port-au-Prince, 1907
Overviewedit
The National Bank of Haiti was conceived in the final stages of reimbursement of the notorious Haiti indemnity obligation that arose in the aftermath of the Haitian Revolution. It was the brainchild of President of Haiti Lysius Salomon, who in 1880 promoted the legislation (law of 10 September 1880)[1] which created a 50-year concession for currency issuance and management of the country's finances. Crédit Industriel et Commercial (CIC), a French bank that had made a large loan of 36 million French Francs to Haiti in 1875,[2] formed the National Bank in Paris in May 1881, and appointed Ernest Lehideux as its first president.[1]
The bank's creation ostensibly facilitated the full repayment of the Haiti indemnity, for which the last payment was made in 1883.[4] However, the operations of the National Bank were a matter of controversy in Haiti, not least because of its aggressive charging of fees and repatriation of profits and dividends to France.[5] Thus, the initial hopes that it would be an instrument of Haitian financial independence were quickly dashed. Haitian statesman Frédéric Marcelin was a prominent critic and in 1890 wrote an essay to denounce the bank's extraction of Haiti's riches and lack of positive contribution to the country's economic development.[6]
In October 1910, Haitian President Antoine Simon revoked the National Bank's concession, ending its activity.[7] He granted the concession for currency issuance and government treasury operations to the newly formed National Bank of the Republic of Haiti, also established in Paris at 55, rue de Chateaudun [fr],[8] whose initial majority shareholder was the Banque de l'Union Parisienne.[7]
^Frédéric Marcelin (1890), La Banque nationale d'Haïti : une page d'histoire, Paris: Imprimerie Joseph Kugelmann
^ abPeter James Hudson (2013), "The National City Bank of New York and Haiti, 1909 – 1922" (PDF), Radical History Review, Duke University Press: 91–114
^"Banque Nationale de la République d'Haïti". Data for Financial History.
This bank and insurance-related article is a stub. You can help Wikipedia by expanding it.
national, bank, haiti, french, banque, nationale, haïti, french, bank, founded, 1881, crédit, industriel, commercial, headquartered, paris, serve, haiti, indemnity, obligation, monopoly, currency, issuance, haiti, concession, from, haitian, government, antoine. The National Bank of Haiti French Banque Nationale d Haiti was a French bank founded in 1881 by Credit Industriel et Commercial and headquartered in Paris to serve the Haiti indemnity obligation It had a monopoly of currency issuance in Haiti by concession from the Haitian government Antoine Simon closed it in 1910 and it was succeeded by the National Bank of the Republic of Haiti also established in Paris Seat of the National Bank of Haiti in Port au Prince 1907Overview editThe National Bank of Haiti was conceived in the final stages of reimbursement of the notorious Haiti indemnity obligation that arose in the aftermath of the Haitian Revolution It was the brainchild of President of Haiti Lysius Salomon who in 1880 promoted the legislation law of 10 September 1880 1 which created a 50 year concession for currency issuance and management of the country s finances Credit Industriel et Commercial CIC a French bank that had made a large loan of 36 million French Francs to Haiti in 1875 2 formed the National Bank in Paris in May 1881 and appointed Ernest Lehideux as its first president 1 In Paris the bank was headquartered at 49 rue Taitbout fr 1 not far from the seat of CIC which at the time was at 66 rue de la Victoire 3 For its main branch in Port au Prince it built a neoclassical building that was later used by the National Bank of the Republic of Haiti The bank s creation ostensibly facilitated the full repayment of the Haiti indemnity for which the last payment was made in 1883 4 However the operations of the National Bank were a matter of controversy in Haiti not least because of its aggressive charging of fees and repatriation of profits and dividends to France 5 Thus the initial hopes that it would be an instrument of Haitian financial independence were quickly dashed Haitian statesman Frederic Marcelin was a prominent critic and in 1890 wrote an essay to denounce the bank s extraction of Haiti s riches and lack of positive contribution to the country s economic development 6 In October 1910 Haitian President Antoine Simon revoked the National Bank s concession ending its activity 7 He granted the concession for currency issuance and government treasury operations to the newly formed National Bank of the Republic of Haiti also established in Paris at 55 rue de Chateaudun fr 8 whose initial majority shareholder was the Banque de l Union Parisienne 7 See also editOttoman Bank State Bank of MoroccoNotes edit a b c Banque Nationale d Haiti Data for Financial History Matt Apuzzo Constant Meheut Selam Gebrekidan Catherine Porter 20 May 2022 The Ransom How a French Bank Captured Haiti The New York Times Republique d Haiti 100 000 obligations PDF Journal du Lot 25 April 1898 p 3 Jose de Cordoba 2 January 2004 Impoverished Haiti Pins Hopes for Future On a Very Old Debt The Wall Street Journal Historique Banque de la Republique d Haiti Frederic Marcelin 1890 La Banque nationale d Haiti une page d histoire Paris Imprimerie Joseph Kugelmann a b Peter James Hudson 2013 The National City Bank of New York and Haiti 1909 1922 PDF Radical History Review Duke University Press 91 114 Banque Nationale de la Republique d Haiti Data for Financial History nbsp nbsp This bank and insurance related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title National Bank of Haiti amp oldid 1165715101, wikipedia, wiki, book, books, library,
